Eliot Spitzer's interview of Michael Lewis on CNN was all about where the banks, including Goldman Sachs, are today. Unfortunately, the following CNN video with Spitzer's interview is quite a bit shorter than it was on the TV, so I have paraphrased the other information below.
According to Lewis, bankers haven't learned anything except that they can do whatever they want to because the financial system is not properly regulated yet. The banks, like Goldman Sachs, get to keep the money they make and the bailout money when they make risky decisions and fail. Goldman Sachs has been complicit in the largest transfer of wealth from taxpayers to the richest people in the country.
If the capital requirements for banks and the Volcker rule are enforced properly, then there should be less risk and less volatility in earnings for banks, and there should be no bailouts for losses. In the past, says Lewis, the taxpayer, for all intents and purposes, has been backing hedge funds.
The FCIC holds no one accountable in its report even though it presents damning evidence of malfeasance although no one is caught doing anything criminal. What is scandalous is what is considered "legal." The underwriting standards of banks like Goldman Sachs were horrible. According to Lewis, the surface of what was done is just being scratched; the banks did not co-operate fully. What we are left with is a bunch of self-justified and self-rightous bankers who are proud of the huge amounts of money (and status) they have attained.
Bernanke and Geithner have dirty hands and because of their actions the financial system cannot be reformed properley: the banks have been subsidized back to health rather than reformed.
See the video here
GoldmanSachs666 Message Board
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage". In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia